This reminds me of the attempt to start up an OpenACS Foundation from this 
thread.  What happened to that idea?
I like the direction that Apache and SourceForge are heading with their project donation schemes.  I think the WorkerBee/Bounties initiative is a great idea.
This raises a few questions about a Foundation:
1.  Who will be responsible for the Foundation?  OCT?  Not all of OCT are in the one country.
2.  Where will it be located?  Tax will be a big issue, unless someone lives in the Cayman Islands.  :)
3.  Could this all instead be processed through paypal?  Meaning everyone creates their own paypal account and have that advertised on the openacs site somewhere?  Maybe associated with a package that they prefer to maintain?